Is Now The Right Time To Sell?
With all the conflicting reports on both the state of the property market and the economy, it is no wonder homeowners are finding it hard to make the decision to sell or stay.
What we do know is that buyer demand for property in Perth has increased since the easing of social restrictions in early May. Perhaps it’s the result of pent up demand caused by the COVID-19 ‘shut down’ period or the government stimulus that has been injected into our economy.
Nonetheless, the statistics show that the Perth market has approximately 10,000 properties currently available compared to nearly 15,000 at the same time last year.
That’s nearly a third of all sellers leaving the market, waiting to see what will happen to prices in the aftermath of the coronavirus crisis. Their withdrawal has created scarcity in the market, so we’re not seeing the price freefall that some had predicted.
This significant drop in availability of property across Perth together with historically low interest rates, is creating a window of opportunity for sellers to capitalise on.
However, the ever-changing health and economic situation nationally certainly doesn’t provide a clearer picture for the later part of this year. And given the fact that many sellers will wait until the traditional spring selling season, creating more supply in the market, now may well be an opportune time to sell if you are looking to make a move.
We’d be happy to talk to you about how you should be preparing your home for sale and the various marketing strategies to help you get the best possible price.